Innovation not just for startups

Vistage summit challenges CEOs to lead with innovation

Sekou Andrews used his voice poetry to convey a message of inspiration and innovation at the Vistage International innovation summit in La Jolla this week.
— Courtesy photo - Sandy Huffaker Photography

Sekou Andrews used his voice poetry to convey a message of inspiration and innovation at the Vistage International innovation summit in La Jolla this week.
/ Courtesy photo - Sandy Huffaker Photography

Innovative products, processes and marketing strategies like that one drive the economy so effectively, Curtin said, that many countries try to spur them with public policies, to no avail.

"Innovation never comes by demand," he explained. "It's a creative task, and it's inherently individual, although all innovators know you need a team to bring it to reality."

The most creative ideas often come from uncertainty, he said, or from a question that doesn't yet have an answer. And with that uncertainty comes an inherent risk of failure. But, he said, firms can manage their potential failure by including consumers in the innovation process and breaking their risks into smaller steps.

Serial entrepreneur, business coach and TED Talk star Cameron Herold said businesses can foster creative breakthroughs by setting their sights on where they want to go instead of the specifics of how they want to get there. The most important thing for an executive to do, he said, is to communicate that vision consistently and persistently.